Missouri casino industry sees decline in September

Sudhanshu Ranjan October 16, 2024

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Missouri casino industry sees decline in September

Missouri’s state casinos brought in nearly $150 million in adjusted gross revenue (AGR) in September. This represents a 5.4 percent drop from the same time last year, and month-over-month, there was an 8.2 percent decline from August’s results. Despite the downturn, a few casinos still stood out, with Ameristar St. Charles leading the pack.

Missouri casino revenue for September

In September, Missouri’s 13 riverboat casinos posted a collective AGR of almost $150 million. While this number sounds impressive, it’s a noticeable drop compared to September 2022, when casinos pulled in $158 million. This year, revenue dropped by $8 million, representing a 5.4 percent decrease year-over-year. Additionally, revenue fell by 8.2 percent compared to August, marking a tough month for Missouri’s gambling industry.

Despite the overall downturn, certain casinos in Missouri fared better than others. Ameristar St. Charles took the top spot in September, bringing in nearly $23.6 million in revenue. The casino has consistently performed well, and it continues to lead the state in terms of earnings. River City Casino followed closely behind with $20.4 million in revenue for September. It barely edged out Hollywood Casino, claiming second place for the month. Hollywood Casino took third place, posting $20.3 million in revenue. Although River City surpassed it by just over $100,000, Hollywood remained one of the top earners in the state.

Performance of Missouri casinos

Missouri’s casinos have collectively generated a year-to-date AGR of nearly $468 million. However, this figure is down by 3 percent compared to last year. While the industry has seen some growth in previous months, the downward trend in September highlights ongoing challenges in the state’s gambling sector.

In September, Missouri’s casinos contributed a combined total of $31.5 million in taxes to the state. These contributions are critical for state funding, supporting various public services. The drop in revenue may affect tax contributions in the future, but for now, Missouri continues to benefit from its thriving gaming industry.

In November, Missouri voters will have the opportunity to decide on the legalisation of sports betting. Amendment 2, which could bring statewide legalised sports betting, will be on the ballot.

Should voters approve Amendment 2, Missouri would become the 39th state in the U.S. to legalise sports betting. Legalised sports betting would allow casinos and other operators to offer betting on professional and collegiate sports, potentially driving more traffic to the state’s gaming facilities.

Under current state law, the Missouri Gaming Commission can distribute a total of 13 gaming licences, all of which must be located on the Missouri or Mississippi rivers. However, with discussions of new casino developments, including a potential casino near Lake of the Ozarks, the state could see a shift in its gaming landscape.

If a new casino were to open in the region, it could significantly boost tourism and provide new economic opportunities. The combination of natural beauty and entertainment could make the area a prime destination for both gambling and recreation.

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